05 Jul How to Generate More Income – Top 5 Ways!
If you’re like the majority of Americans living paycheck-to-paycheck, you’ve probably tried different things to generate more income for a variety of reasons. Just about all of us have had something unexpected happen where we needed some quick cash to get ourselves out of a jam.
While everyone has different talents and abilities that they can capitalize on, here are some practical ways to increase your income so you can pay down debt, beef up an emergency fund, save up for a much-needed vacation, or just make ends meet.
So what are five ways to generate more income?
Five Ways to Make More Money
#1 – Sell Unneeded/Unwanted Items
Most of us have way too much stuff. Be honest—you probably do too. And this happens almost without even trying in our society, doesn’t it? (At least it does at my house!) We just go about our days and live our lives, and before we know it, we are practically drowning in stuff.
Increase Income and Free Yourself
I don’t know about you, but I hate clutter and too much stuff. It just makes me feel overwhelmed! What an incredible strategy to sell things that you no longer need, use, or want, and turn them into cash! It’s really a win-win for everyone because not only do you get rid of something and get cash from it, but also the buyer usually scores a deal, too, and there’s less junk going into the landfills!
So wait no longer—raid your closets, jewelry box, the garage, and the basement. Have a yard sale, post items online (through Facebook, eBay, craigslist, Gazelle, or Wallop, among others), or find local vendors who purchase used items. Don’t forget to consult consignment shops too. You can often sell clothes, used media (CDs, DVDs, video games, books, etc.), or musical instruments to local vendors for cash. Search online for places that offer these services, and start packing your items up to turn into cash. Good-bye, clutter! Hello, money!
#2 – Offer a Service
All of us have talents that we can turn into cash. From dog walking to baking/catering to tutoring or handyman jobs, we can all offer a service that people will pay for. Consider clearing gutters or doing other yard work, cleaning a couple of houses per week, or babysitting. What can you do that others would be willing to pay for?
Generating More Income by Providing Value
If you like pets, consider pet-sitting. Is your neighbor going out of town? Offer to house sit. Do you enjoy kids? Who needs a babysitter? Do you enjoy being outside? Wash cars in your driveway! Can you tutor or teach music lessons (privately or through a school)? Do you enjoy sports and could referee? Can you repair cars or appliances? The possibilities really are endless; you just need to get creative and open your eyes to see the needs around you.
Start by letting family and friends know what you’re doing, and ask for a chance to show them your skills. Consider ordering some free or low-cost business cards or printing some on your computer. Post them at permissible locations, including laundromats, grocery stores, and libraries. Hand one to the cashier at the bank or store. And when someone hires you for a job, be sure to ask for referrals. Knock on doors in your neighborhood, introduce yourself, and explain your service. Advertise your service for free on Craigslist (and while you’re on Craigslist, see what part-time jobs are available in your area).
Tap into your talents and abilities, and generate the extra income you need by providing a helpful service to others.
#3 – Put Your Car to Work
This is a fairly new concept, but it’s catching on quickly. If you live in a well-populated area, this could quickly put cash in your pocket. As an Uber driver, you can choose your own hours and make pretty good money if you have a decently reliable vehicle. And it’s not just Uber—there are other companies popping up that offer this service as well (like Lyft)—so research your area for other options too.
Moms, need to earn some income while the kids are in school? College students, got a few hours in the evening after your classes are done? Have some time over the weekend that you could taxi people around and get paid to do it? You really owe it to yourself to look into this option. Click here to find out more about putting your car to work for you through Uber.
#4 – Freelance Work
There are thousands of freelance gigs out there just waiting for someone to snatch them up! And there are dozens of websites and job boards (Upwork and Fiverr, for example) looking for someone who can write content, manage their social media accounts, design a logo, or become a virtual assistant.
If you’re especially knowledgeable in a specific area, you can also do consulting or coaching work. For example, you can offer legal advice, assist businesses with marketing, or work as a personal trainer.
Sometimes freelancing work is online—sometimes it’s in person—but either way, it’s flexible and isn’t usually long term. So make the most of your interests and skills by picking up a couple of freelance assignments to supplement your income in your extra time.
#5 – Give Up Something for a Month
You know the saying, “a penny saved is a penny earned.” And that’s exactly what this tip is all about. We can all give something up and repurpose the money for something else that’s more important. Obviously, this is probably everyone’s least favorite tip on this list, but don’t dismiss it too quickly.
Get really honest with yourself. What can you give up for a period of time to “find” the cash you need? How about giving up your specialty coffee every morning? What about giving up smoking? Consider canceling your cable TV service or at least minimizing it considerably. (And think of all the extra time you’ll have to do the other four tips listed above without the distraction of cable!) What if you ate at home all month and saved the $50+/week you normally spend at restaurants? (That’s $200/month right there!)
Just remember: If you want things to change for you, you have to change what you’re doing. You may have tried some of these things in the past and feel like it didn’t work as well as you had hoped. But don’t give up! Keep trying until you find just the right opportunities for your skill set and be ready to work hard. Once you start generating that extra income, you’ll realize that it’s worth it!
This newsletter was prepared by a third party company to be used on the Russell & Company and Simple Money Tips for Women websites.
